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Plett property market all set to take off again

Plettenberg Bay has experienced a dramatic improvement in its economic fortunes in recent months and an extremely positive spinoff for its real estate market.


This magnificent five-bedroom home in the Schoongezicht security estate in Plettenberg Bay is for sale through Chas Everitt International for R10,5m. Built on three levels, it offers 805sqm of living space and spectacular ocean and golf course views. It is being sold fully furnished and there is no transfer duty payable.
 
So says John Fuller, owner of the local Chas Everitt International franchise, who notes:“The profile of the town has really been lifted recently with four of its beaches being award Blue Flag status, the local airport having been re-opened and some spectacular new developments being brought to market here.
 
“The demand for homes here is now at its best since 2005 and we are expecting real price growth for the first time in years in the wake of the current influx of semigrants and retirees.”
 
He says buyers are looking to relocate to Plett from other provinces because it has “a rare combination of small town values and big city standards” and that it is also a popular choice for European buyers who visit between October and March each year to enjoy the wonderful climate and huge range of natural attractions that the area has to offer.”
 
“Traditionally, Plett was of course the top holiday destination for captains of industry, international entrepreneurs and the polo set, as there are 13 polo fields in the area. However, it has now become much more accessible with almost daily CemAir flights to the OR Tambo International and Cape Town International airports. In fact, one of our clients is an actuary who commutes between here and London.”
 
Fuller says most buying activity at the moment is taking place in the R1m to R2,5m price range. “Above that there are buyers but their interest is largely focused on the newer areas and estates that offer secure living and contemporary home designs, and not on ‘old Plett’ except for homes in prime locations with outstanding views.
 
“And security and convenience, laced with luxury, are what’s on offer now at Lynnwood, the latest development in the Goose Valley Golf Estate. This estate is a financial success story like no other on the Garden Route and Lynnwood is a great addition to the popular Turtle Creek and Fairway Close developments.”
 
Building your own home in Plett is also still affordable due to relatively low local building costs, he says. “Vacant stands priced at between R350 000 and R750 000 are still available at the established Schoongezicht Country Estate and you can build for between R8000 and R12 000 per sqm here if you choose the right builder. There are also stands available at Whale Rock from around R450 000, and 1500sqm stands in Brackenbridge at prices from around R1,3m.”


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